CarbonX has been awarded a €2.5 million grant from the European Innovation Council (EIC) Accelerator, marking a significant advancement in the company’s efforts to transform the active anode material supply chain in Europe. The grant, part of a blended finance package that includes an additional €5 million in equity, was awarded to CarbonX after competing against 1,211 proposals. The selection places CarbonX among the top 71 companies in the most competitive funding round to date, underscoring the company’s innovative technology, commercial readiness, and dedication to sustainability.
The EIC Accelerator grant will support CarbonX’s initiatives to accelerate product development and expand its market presence, particularly in replacing graphite within the European automotive battery green technology sector. This funding is expected to enhance CarbonX’s capacity to establish a fully independent European supply chain for critical battery materials, reducing reliance on external sources and promoting local production.
Rutger van Raalten, CEO of CarbonX, stated, “This achievement validates our technology and demonstrates our comprehensive product offering at a competitive price. With the support of the EIC, we will expedite the creation of a self-sufficient European supply chain for essential battery materials.”
CarbonX has expressed gratitude for the support received from its customers and ZAZ Ventures during the EIC application process. The collaboration highlights the collective effort to build a sustainable and viable European supply chain for battery materials, with CarbonX positioned as a key participant in this initiative.
Founded in 2014 and headquartered near Delft University of Technology in the Netherlands, CarbonX is pioneering a new approach to anode materials. The company’s locally produced anode material offers competitive pricing compared to Chinese graphite while providing superior battery performance and a reduced carbon footprint. CarbonX is actively developing comprehensive support for battery cell validation and is establishing localized supply chains in both Europe and the United States, aiming to disrupt the traditional battery industry and foster greater sustainability within the sector.
The EIC Accelerator grant represents a pivotal step for CarbonX, enabling the company to advance its technologies and expand its market footprint. This funding will play a crucial role in achieving CarbonX’s vision of a sustainable and independent supply chain for critical battery components in the automotive industry.
Source: CarbonX
